Bay Area "Percolating" With High Paying Jobs

The bay area is a good prognosticator for the future health of the northern California economy including Sacramento and the Central Valley. As an anchor of innovation, this area has rapidly been growing high paying jobs (just think Google, Youtube, Facebook, etc). Make no mistake, this is not the high flying dot com era that seems like a distant memory today, rather these are solid companies with real profits and promise.

Peninsula job growth is brewing

"Job growth in the San Francisco metro area appears to be percolating, buoyed by a trend toward adding high-paying positions, according to report released Friday....

...For the 19th consecutive month, the metro area that includes San Mateo, San Francisco and Marin counties added jobs on a year-over-year basis. The area tacked on 17,400 jobs over the past year, up 1.8 percent, outpacing both the state (up 1.1 percent) and rival East Bay (up 1.6 percent), according to the state Employment Development Department....

...San Mateo County's unemployment rate slipped to 3.3 percent in October, the lowest rate since May 2001 and the lowest October rate since 2000, when it was 2.7 percent....

...Meanwhile, California's unemployment rate fell to a record low of 4.5 percent in October, down from 4.8 percent in September. It was the state's lowest rate since the current employment data series was established in 1976....

....The San Francisco metro area gained 4,800 jobs between September and October. That's several times greater than the average September-to-October increase of 1,100 over the past 15 years, said Ruth Kavanagh, West Bay labor market specialist with the Employment Development Department.... "

By Tim Simmers, BUSINESS WRITER - Insidebayarea.com (Link)